Siena Capital Partners GP LLC Has $6.40 Million Holdings in First Citizens BancShares, Inc. (FCNCA)
Siena Capital Partners GP LLC trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,121 shares of the bank’s stock after selling 2,000 shares during the quarter. First Citizens BancShares comprises 6.5% of Siena Capital Partners GP LLC’s investment portfolio, making the stock its 7th biggest position. Siena Capital Partners GP LLC owned 0.14% of First Citizens BancShares worth $6,401,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new position in First Citizens BancShares in the 2nd quarter valued at about $104,000. Teacher Retirement System of Texas acquired a new position in First Citizens BancShares in the 2nd quarter valued at about $214,000. BNP Paribas Arbitrage SA boosted its holdings in First Citizens BancShares by 244.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,034 shares of the bank’s stock valued at $385,000 after purchasing an additional 734 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in First Citizens BancShares by 17.3% in the 2nd quarter. Pacer Advisors Inc. now owns 1,126 shares of the bank’s stock valued at $420,000 after purchasing an additional 166 shares during the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its holdings in First Citizens BancShares by 69.2% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,650 shares of the bank’s stock valued at $615,000 after purchasing an additional 675 shares during the last quarter. Institutional investors own 44.87% of the company’s stock.
In related news, Vice Chairman Hope Holding Bryant sold 2,255 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $339.85, for a total value of $766,361.75. Following the sale, the insider now directly owns 272,572 shares of the company’s stock, valued at $92,633,594.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Olivia Britton Holding sold 245 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $362.06, for a total transaction of $88,704.70. Following the completion of the sale, the insider now directly owns 343,898 shares in the company, valued at $124,511,709.88. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock worth $4,398,866 over the last three months. Corporate insiders own 19.38% of the company’s stock.
A number of research firms have recently issued reports on FCNCA. BidaskClub downgraded shares of First Citizens BancShares from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating in a research note on Friday, August 18th.
First Citizens BancShares, Inc. (FCNCA) traded up 0.495% during midday trading on Wednesday, hitting $407.005. 1,808 shares of the stock were exchanged. The firm has a 50 day moving average of $374.36 and a 200-day moving average of $358.86. First Citizens BancShares, Inc. has a 12-month low of $281.99 and a 12-month high of $417.98. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 15.955 and a beta of 1.10.
First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $5.58 earnings per share (EPS) for the quarter. First Citizens BancShares had a net margin of 20.60% and a return on equity of 10.33%. The company had revenue of $398.56 million for the quarter. On average, equities analysts expect that First Citizens BancShares, Inc. will post $10.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 18th will be given a $0.35 dividend. The ex-dividend date is Friday, December 15th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 0.35%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.48%.
First Citizens BancShares declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that allows the company to buyback 800,000 outstanding shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
First Citizens BancShares Company Profile
First Citizens BancShares, Inc (BancShares) is a holding company of First-Citizens Bank & Trust Company (FCB). As of December 31, 2016, BancShares operated in 21 states providing a range of financial services to individuals, businesses and professionals. FCB offers a range of retail and commercial banking services.
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